Calculating Payroll Taxes Expense and Preparing Journal Entry Selected information from the payroll register of Ebeling's Dairy for the week ended July 7, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.6%, both on the first $7,000 of earnings. Social Security tax on the employer is 6.2% on the first $128,400 of earnings, and Medicare tax is 1.45% on gross earnings.           Taxable Earnings Employee Name Cumulative Pay Before Current Earnings Current Weekly Earnings Unemployment Compensation Social Security Click, Katelyn       $6,660      $850       Coombs, Michelle   6,380      750       Fauss, Erin   23,010      1,220       Lenihan, Marcus   6,900      980       McMahon, Drew   125,200      5,260       Newell, Marg   25,150      1,110       Stevens, Matt   28,970      1,240

Q: Lexington Corporation’s weekly payroll of $24,000 included FICA taxes withheld of $1,836, federal…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Journalize the transactions shown

A: Calculate Salary expense = Gross salary - Tax payables - Insurance premium payables.

Q: Calculation and Journal Entry for Employer Payroll Taxes  1. Calculate the employer's payroll taxes…

A: Total current earnings = $720+$370+$1240+$850+$900 = $4080 Total of unemployment compensation =…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Journal entry: It is the duty of the accountant to record business economic and non-economic…

Q: Journalizing And Posting Payroll Entries Cascade Company has four employees. All are paid on a…

A: DATE  PARTICULARS DOC.NO POST. REF. DEBIT CREDIT 1 15 JUNE Social security tax payable    212…

Q: Selected information from the payroll register of Barbara's Stables for the week ended September 28,…

A: Tax liability: It is the total amount of tax owed is a given period, by individuals and…

Q: Journalizing And Posting Payroll Entries Cascade Company has four employees. All are paid on a…

A: There are different accounts are prepared.

Q: Selected information from the payroll register of Joanie's Boutique for the week ended September 14,…

A: Given :  Social Security tax = 6.2% Medicare tax  = 1.45% FUTA tax  = 0.6%  SUTA tax =  5.4% on the…

Q: The payroll register for Schmidt Company for the week ended April 29 indicated the following:…

A: Note:- Dear student Accounting equations are not done because we didn't find any instructions in…

Q: Compute Payroll An employee earns $20 per hour and 1.75 times that rate for all hours in excess of…

A:

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: Calculate Payroll An employee earns $32 per hour and 1.75 times that rate for all hours in excess…

A: Introduction: Payroll accounts are maintained separately to record the salaries paid to everyone in…

Q: Calculate Payroll An employee earns $24 per hour and 1.75 times that rate for all hours in excess…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The…

A: Employer Payroll tax expense = Social Security tax + Medicare tax + FUTA tax + SUTA tax

Q: In January, gross earnings in Concord Company were $40,000. The 7.65% FICA tax rate consists of the…

A: Payroll accounting is a part of accounting through which an employer can effectively manage payroll…

Q: Payroll registerThe following data for Throwback Industries Inc. relate to the payroll for the…

A: A payroll register is a register in which all the data related to the individual working in the…

Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…

A: Payroll is the compensation amount paid to its employees by a company for a set period and on a…

Q: Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the…

A: Tax liability: It is the total amount of tax owed is a given period, by individuals and…

Q: Payroll Accounting and Discussion of Labor Costs Blitzen Marketing Research paid its weekly and…

A: Note: As per our guidelines, we will solve the first three sub-parts for you.   1. Date Account…

Q: KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2021, the…

A: Introduction: A general journal is the first place where information is collected, with dividing…

Q: Calculation and Journal Entry for Employer Payroll Taxes Portions of the payroll register for…

A: Payroll accounting keeps track of your employees' wages and accounts for any extra expenses incurred…

Q: Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry Selected…

A: Payroll It is important for the business to maintain the payroll system which is important for both…

Q: The totals line from Nb:Company'spayroll register for the week ended March 31,20--, is as follows…

A: Hi student Since there are multiple questions, we will answer only first question that is ques no 2.

Q: The following totals for the month of April were taken from the payroll register of Magnum Company.…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Portions of the payroll register for…

A: Payroll taxes are the amount of taxes that is being payable on salaries payable to employees.

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: Journal: Recording of a business transactions in a chronological order.

Q: Payroll summary The following data for Throwback Industries Inc. relate to the payroll for the week…

A: A payroll register is a register in which all the data related to the individual working in the…

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

A: State Unemployment Tax Payable = Salaries Expense x state unemployment tax rate = 30000*3.1% = $930…

Q: KMH Industries is a monthly schedule depositor of payroll taxes. For the month of August 2020, the…

A: Citizens are taxed in proportion to their financial situation, promoting social and economic…

Q: The summary of the payroll for the monthly pay period ending July 15 indicated the following:…

A: Federal income taxes are imposed in USA. The income tax is calculated by implementing tax rate which…

Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…

A: Journal entries are the building blocks of accounting, which is the act of recording the economic or…

Q: Payroll Entries The payroll register for D. Salah Company for the week ended May 18 indicated the…

A: Solution:- a)Journal Entry to record the payroll expense as follows:- Working notes:- Social…

Q: The payroll register for Gamble Company for the week ended April 29 indicated the following:…

A: A.Prepare journal entry to record the payroll for the week of April 29.

Q: Calculation and Journal Entry for Employer Payroll Taxes 1.  Calculate the employer's payroll taxes…

A: Employer payroll tax expense:

Q: ) Journalize the payroll entry for the week. DATE   Debit Credit X/X…

A:

Q: Journal entries for payroll A partial summary of the payroll data for Burrington Manufactur- ing…

A: Financial transactions are initially recorded in the form of journal entry.

Q: CALCULATION AND JOURNAL ENTRY FOR EMPLOYER PAYROLL TAXES Earnings for several employees for the week…

A: Calculation of Employer Payroll tax expense Particulars Amount FUTA (710*0.6%) 4.26 SUTA…

Q: Entries for Payroll and Payroll Taxes The following information about the peyroil for the week ended…

A: In this question, we have been given information related to the Payroll role, and on the basis of…

Q: The payroll register for Schmidt Company for the week ended April 29 indicated the following:…

A: Journal entries for recording the payroll and payroll tax for April 29.

Q: Compute Payroll An employee earns $24 per hour and 1.75 times that rate for all hours in excess of…

A: Solution:- a)Calculation of the gross pay for the week as follows:- =Normal wages + Overtime wages

Q: Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry Selected…

A: Payroll is the compensation paid by the company to its employees for a set period. It is generally…

Q: Selected information from the payroll register of Barbara's Stables for the week ended September 28,…

A: Social Security tax = 6.2% on the first $128,400 of earnings Medicare tax = 1.45% of gross earnings…

Q: Recording Payroll and Payroll Taxes The following information about the payroll for the week ended…

A: Journal Entries

Q: The following totals for the month of June were taken from the payroll register of Arcon Company:…

A: Net payment of salary to be made = Salaries expense - witholdings = $14,000 - $1,050 - $2,600 -…

Q: The following totals for the month of April were compiled from the payroll data of Magnum Company:…

A: Date Accounts Debit Credit   Payroll Tax Expense $1,170           FICA taxes Payable   $750…

Q: Calculation of Taxable Earnings and Employer Payroll Taxes and Preparation of Journal Entry…

A: Payroll refers to the payment to be made by the employer to the employees against the services…

Q: repare the entry to record January payroll tax expense

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: The payroll register for D. Salah Company for the week ended May 18 indicated the following:…

A: Payroll tax expenses are the expenses which is related to payroll of an employee deduct by the…

Q: Compute Payroll An employee earns $22 per hour and 2 times that rate for all hours in excess of 40…

A: Gross pay is an individual's total earnings for a certain time period first before reductions are…

Q: In January, gross earnings in Swifty Company were $42,000. The 7.65% FICA tax rate consists of the…

A: Social Security tax = Social Security Taxable Earnings x Social Security tax rate = 42000*6.20% =…